科恩说

第二季度的开始给加密货币资产带来了一些希望，比特币交易的价格为8.4万美元至8.5万美元，尽管特朗普的关税决策，通货膨胀，全球经济放缓和利率问题的危险迫在眉睫，但市场看起来很稳定。

The start of the second quarter has given some hope to the crypto assets with Bitcoin trading at the range of $84K to $85K, the market looks quite stable despite the looming dangers of Trump’s Tariff decisions, inflation, global economic slowdown, and interest rate concerns.

第二季度的开始给加密货币资产带来了一些希望，比特币交易的价格为8.4万美元至8.5万美元，尽管特朗普的关税决策，通货膨胀，全球经济放缓和利率问题的危险迫在眉睫，但市场看起来很稳定。

Bitcoin’s recent price swings might look unstable, but it’s all part of the larger trend, which still points toward a positive long-term outlook.

比特币最近的价格波动可能看起来不稳定，但这是更大趋势的一部分，这仍然指向积极的长期前景。

How High Can BTC Price Go This Cycle?

BTC价格在这个周期中能有多高？

In a new podcast interview with host Austin Arnold on the Altcoin Daily channel, Cowen explains that the real worry would begin only if Bitcoin drops below its 2024 high of $72K and stays there. That could mean the current bull run has already ended earlier than expected, which is something analysts call a “left translated cycle.” But right now, there’s no clear sign that this is happening.

在Altcoin Daily Channel的主持人Austin Arnold的新播客采访中，Cowen解释说，真正的担忧只有比特币低于其2024年高点72K的高价并留在那里。这可能意味着目前的牛跑已经比预期的要早，这是分析师称之为“左翻译周期”的东西。但是现在，没有明确的迹象表明这正在发生。

Cowen believes the current market may follow a “right-translated cycle,” a pattern where Bitcoin peaks later in the cycle rather than early on. If that plays out, he expects Bitcoin to climb anywhere from $120,000 to $150,000, with a stretch target of $200,000 if conditions align perfectly. However, he ruled out the possibility of BTC hitting $300,000 in this cycle, though he’s confident it will reach that mark in the future.

Cowen认为当前的市场可能遵循“右翻译周期”，这种模式在该模式中，比特币在周期后期而不是早期达到顶峰。如果这种情况发生，他预计比特币将攀升至120,000美元至150,000美元，如果条件完美地融合，则比特币的目标为200,000美元。但是，他排除了BTC在这个周期中达到300,000美元的可能性，尽管他有信心将来它将达到这一目标。

However, he also warns that time is limited, as 2026 is expected to be a tough year for crypto markets, repeating what happened in 2018 and 2022. If a deeper pullback happens, Cowan advises against panic selling. Instead, he suggests that the market would likely produce a lower high later in the year, potentially allowing investors to exit or reposition.

但是，他还警告说，时间是有限的，因为预计2026年对于加密市场来说将是艰难的一年，重复2018年和2022年发生的事情。取而代之的是，他建议市场可能在今年晚些时候产生较低的高价，有可能允许投资者退出或重新定位。

According to Cowan, small dips like these are normal and don’t automatically mean the market is in trouble, unless the drop lasts too long and turns into a full-blown downtrend.

根据Cowan的说法，这样的小蘸酱是正常的，并且不会自动意味着市场有麻烦，除非下降持续时间太长，并且变成了成熟的下降趋势。

Ethereum and Cardano Price Forecast

以太坊和野马价格预测

Apart from Bitcoin, Cowen believes that Ethereum still has hope, but it’s going through a painful period, yet a necessary correction. He thinks ETH is “going home” to its long-term fair value, just like its past cycles, which are mainly linked with the Fed’s policy. He sees a possible rebound of $1200-$1600, once the monetary policies stabilize.

除比特币外，Cowen认为以太坊仍然有希望，但是经历了痛苦的时期，但需要进行必要的更正。他认为，ETH“回家”具有长期的公允价值，就像过去的周期一样，这主要与美联储的政策联系在一起。一旦货币政策稳定，他认为可能的篮板可能为1200-1600美元。

On the other side, for Cardano, he is not bullish in the short term, as he can see that Cardano is repeating last year’s pattern of slow decline against Bitcoin, and it may not rise until late 2025, unless market condition changes.

另一方面，对于Cardano来说，他在短期内并不是看好的，因为他可以看到Cardano正在重复去年对比特币的缓慢下降模式，除非市场状况发生变化，否则直到2025年下半年才可能上升。

FAQs

常见问题解答

While not this cycle, Cowen believes BTC could reach $300K or more by 2030 as adoption and market maturity grow.

尽管不是这个周期，但Cowen认为，随着采用和市场成熟度的增长，到2030年，BTC可能会达到30万美元或更多。

As the altcoin season begins, the short-term gains make Ethereum a lucrative buying option. However, the long-term promises of this programmable blockchain make it a viable long-term crypto investment.

随着Altcoin季节的开始，短期收益使以太坊成为有利可图的购买选择。但是，该可编程区块链的长期承诺使其成为可行的长期加密投资。

Cardano is not dead, as it is witnessing major developmental upgrades, which could boost ADA’s price in the near future.

Cardano并没有死，因为它正在目睹重大的发展升级，这可能会在不久的将来提高Ada的价格。